Quanta Services, Inc. $PWR Stake Lifted by Segment Wealth Management LLC

Segment Wealth Management LLC increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,986 shares of the construction company’s stock after buying an additional 624 shares during the quarter. Segment Wealth Management LLC’s holdings in Quanta Services were worth $8,312,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new position in Quanta Services during the 1st quarter worth $25,000. SOA Wealth Advisors LLC. boosted its position in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after acquiring an additional 43 shares during the period. WPG Advisers LLC acquired a new position in Quanta Services during the 1st quarter worth $31,000. AlphaQuest LLC acquired a new position in Quanta Services during the 1st quarter worth $35,000. Finally, Zions Bancorporation National Association UT acquired a new position in Quanta Services during the 1st quarter worth $40,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 0.2%

NYSE:PWR opened at $421.88 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $431.24. The firm has a market capitalization of $62.86 billion, a price-to-earnings ratio of 65.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The stock has a fifty day simple moving average of $389.67 and a 200 day simple moving average of $349.54.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter last year, the company posted $1.90 EPS. Quanta Services’s revenue for the quarter was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be given a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is 6.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Evercore ISI boosted their price target on Quanta Services from $360.00 to $410.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Roth Capital restated a “buy” rating and issued a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Sanford C. Bernstein lowered Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective for the company. in a report on Monday, July 28th. Truist Financial upped their price objective on Quanta Services from $375.00 to $472.00 and gave the company a “buy” rating in a report on Monday, August 4th. Finally, DA Davidson upped their price objective on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Fourteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $404.27.

Quanta Services Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.